Delivering on the European Fund for Strategic Investments (EFSI)

Transcription

1 Investment Plan for Europe Delivering on the European Fund for Strategic Investments (EFSI) 2016 European Investment Bank Group 1

2 Why an Investment Plan for Europe? Investment & competitiveness gap High liquidity in the market Public budget constraints Financial and non-financial barriers to investment EU Investment Plan EU and Member State policy action EU budget guarantee EIB capacity to mobilise additional investment 2

3 3 ways to tackle the investment gap Investment Plan for Europe Mobilise finance for investment European Fund for Strategic Investments Cooperation with National Promotional Banks Give investment advice European Investment Advisory Hub European Investment Project Portal Create an investment friendly environment Improving the regulatory environment Structural reforms Aim: to mobilise at least 315 billion in investment across the EU 3

4 EFSI setup and governance EFSI EIB Group All EFSI operations are within the EIB Group (EIB&EIF) On the EIB s balance sheet (no separate entity) Subject to standard due diligence EIB & EIF governing bodies approve each operation Additional EFSI governance: Steering Board Investment Committee, headed by a Managing Director Operations already started in spring

5 Mobilising new investment 5

6 Making a difference Our value added Addressing market failures or sub-optimal investment situations Financing operations not possible to same extent otherwise Absorbing part of the risk to trigger additional investments Impact orientation Maximising growth Supporting employment Attracting other sources of finance 6

7 With targeted products Continuously adapting to market needs 7

8 Key areas Targeting strategic public and private investment Infrastructure: including transport, energy and digital Innovation: Education and training, health, research, development and innovation Renewable energy: Expansion of renewable energy generation and support of energy and resource efficiency Environment: Projects in the environmental, urban development and social fields SMEs and midcaps: Financing support through local partner banks and institutions 8

9 Who can benefit? Eligible counterparts Corporates of all sizes Utilities and public sector entities (non-sovereign) SMEs (up to 250 employees) or midcaps (up to 3 000) National Promotional Banks or other banks for intermediation Dedicated Investment Platforms Contact EIB Group directly via InfoDesk or relevant Operations Department 9

10 What kind of operations? Operations need to be: Commercially sound, economically and technically viable Underpin EFSI objectives Support growth and jobs Mature enough to be bankable Priced in a manner commensurate with the risk taken Covering EU28 countries or cross-border operations 10

11 EFSI scoreboard 11

12 EFSI reporting 12

13 Opportunities for promoters/investors EU Member States, National Promotional Banks, Investment Platforms and private sector can participate in different ways : Projects Co-financing/ Risk-sharing with EIB/ EIF Investment Platforms Pooling of projects with thematic or geographic focus Agreement or Fund Can benefit from EU guarantee via EIB Cooperation with EU National Promotional Banks 13

14 Combining EFSI and other funding EU Structural and Investment Fund programmes can contribute to the Investment Plan objectives and complement EFSI support These may join EFSI-supported projects where this would ensure a higher value added 14

15 Financing step-by-step 15

16 SME financing under EFSI 16

17 What is the Advisory Hub? A joint initiative by the European Commission and the European Investment Bank A tool to strengthen Europe's investment and business environment A single access point to a 360 degree offer of advisory and technical assistance services A cooperation platform to leverage, exchange and disseminate expertise An instrument to assess and address unmet needs for advisory support 17

18 More than just finance - investment support DEMAND Project promoters Public authorities Member States Private sector Access point Web content + Web portal + Support team European Investment Advisory Hub Delivery channels Existing advisory programmes and activities Project support throughout the project cycle Support to Financial instruments Enhance access to finance Additional advisory and technical assistance New investment support also in areas relevant to the scope of EFSI (could be delivered by EIB advisory or operational teams) Identification of needs as they arise EIAH s partner institutions expertise Network of institutions incl. EIB Group, European Commission, National Promotional Banks, etc. Integrated collaboration model SUPPLY 18

19 A 360 degrees advisory offer TYPE OF SUPPORT DESCRIPTION PROGRAMMES Support for projects and investments Enhance use of EU funds Access to finance Access to the expertise of the Hub s local partners Access to new advisory services Advisory and technical support in identification, prioritisation, preparation, structuring and implementation of investment projects Advisory and capacity building support in the implementation of ESIF financial instruments Enhancement of the overall conditions for financing for public and private beneficiaries Advisory and technical support from the Hub s local network Continuous development of the Hub s advisory offer to address unmet needs JASPERS, ELENA, EPEC, Implementation support programmes fi-compass, bilateral services to Managing Authorities Innovation Finance Advisory 19

20 Would you like to know more? Consult the Hub s advisory offer Request support from the Hub Contact the Hub for more info eiah@eib.org 20

21 First operations financed Financing for a French pioneering programme SME guarantee agreement EUR 400m to trigger energy efficiency investments in private homes Unlocking EUR 100m of loans for SMEs in Bulgaria Driving clean energy investment For energy efficient buildings Backing midcap modernisation Supporting smaller businesses Equity-type financing for an innovative fund EUR 75m for investment in offshore wind, biomass and transmission projects in Denmark Funding cutting-edge steel production facilities in Italy EUR 100m for innovative and competitive steel products 21

22 First EIB operations financed Driving clean energy investment Equity-type financing for an innovative fund EUR 75m for investment in offshore wind, biomass and transmission projects EIB participation in an innovative fund is mobilising some EUR 2bn of investment in offshore wind, biomass and transmission projects in Denmark 22

23 First EIF operations financed Supporting smaller businesses Equity-type financing for an innovative fund EUR 75m for investment in offshore wind, biomass and transmission projects An EIF guarantee agreement is helping to unlock EUR 100m of loans for some SMEs in Bulgaria 23

24 Results dashboard (EIB group) (as of 10 March) 24

25 EIB operations under EFSI (1/2) 54 projects approved for financing under EFSI - total financing amount EUR 7.2bn Total expected investment related to EFSI over EUR 30bn 37 operations approved by the European Commission or the Investment Committee Total signatures close to EUR 3bn (EUR 145m equity type) EFSI multiplier can only be calculated at the end of the investment period, anticipated multiplier effect of EIB Board approved transitional operations is close to target of 15 25

26 EIB operations under EFSI (2/2) Building the EFSI pipeline ongoing and of high priority Focus on business development by exploring new market segments and targeting new clients based on added value notably in terms of catalytic effect to ensure that the EFSI volume targets for the period Further efforts to accelerate new products, collaboration with National Promotional Banks as well as the setting-up of Investment Platforms 26

27 Timeline and investment period July 4 July 4 July 30 June Entry into force of EFSI Regulation Third anniversary of signing the EFSI Regulation 1st deadline for signature of EFSI operations Deadline for approval of EFSI Operations 2 nd deadline for signature of EFSI Operations Investment period to achieve EUR 315bn of total investments Extended investment period EFSI operations to target EUR 315bn of total investment by 2018 Actual investment period runs until 30 June

28 Thank you! 28